$50M in annual revenue – Mike McDerment, Freshbooks

Best Advice I Ever Received: I remember back in 2005 feeling that if we did
not blow our lights out and spend every penny we had on marketing
“right now!” someone would obliterate us. I had this impending
sense of doom for *years* based on our speed. Turns out I was
wrong, and I owe Joe and Levi (my Co-founders) a world of thanks
for repeatedly pulling me back from the ledge.

Best Advice I'd Give to Someone Who Wants to Build A
$10m+ Business:You can
build a business without being forced to work with the wrong people
at the wrong time for the wrong reasons. The choice is yours –
don’t forget it. Opportunities will present themselves if you keep
your feet moving and you string together a series of small
successes.

In this episode, Steve, Mary, Richard, and Mike
discuss:

Creating
time frames to help organize and set goals.

The
effects of social media and the internet in marketing.

How
to sustain and encourage company growth rates.

Discipline
in small business and how to creates a thriving business
environment.

Key Takeaways:

Your
marketing should never be fueled by a sense of impending doom and
unhappiness.

The
quality of the people you work with establishes the core
foundations of your business.

You
can’t run the whole business on your own, you must hire to continue
scaling and hire people who will scale appropriately with the
company.

Working
together with other people and supporting connections will expand
your company and enrich your business.

"You’ve gotta work with
great people."—Mike McDerment

About Mike:Mike is the co-founder and CEO of FreshBooks,
the world’s #1 cloud accounting software for self-employed
professionals. Built in 2003 after he accidentally saved over an
invoice, Mike spent 3.5 years growing FreshBooks from his parents’
basement. Since then, over 10 million people have used FreshBooks
to save time billing, and collect billions of dollars. A lover of
the outdoors, Mike has been bitten so many times it’s rumoured he’s
the first human to have developed immunity to
mosquitoes.

About the Podcast

Starting a business is hard. Scaling a business is even harder. And, exiting a business is harder still. So, why do some companies struggle to reach six figures while others scale to 7, 8, or 9 figures while achieving lucrative exits for its founders? Steve Olsher, Chairman & Founder of Liquor.com, real estate developer, New York Times bestselling author of What Is Your WHAT? and a 25+ year entrepreneur who has built four multimillion-dollar businesses from scratch is on a mission to identify the key differentiators that empower businesses to scale… and exit. To help on this journey, Steve and his co-hosts Mary Goulet and Richard Otey sit down with accomplished entrepreneurs who have ALL either exited for more than $10,000,000 or currently run businesses that exceed $10,000,000 in annual sales to share their proven methodologies, tactics, and strategies. We don't ask 'set' questions. We don't let our guests 'dodge' the details. This isn't your average, light or fluffy business show. We dig deep and ask the HARD questions others don't dare to ask so that YOU can start, scale or exit your business. If you love Gary Vaynerchuk and his fire; if you love Rachel Hollis and her teachings; if you love Lewis Howes and his passion; and, if you love Joe Rogan for his no-holds-barred style, this will be your go-to business podcast. Welcome to Beyond 8 Figures.